Ripple’s Political Divide Sparks Concern in the XRP Community

Elon Musk’s support for Donald Trump’s presidential campaign has sparked fresh debate. With a contribution of $132 million, Musk has become a prominent backer of Trump’s bid for the White House. His outspoken endorsement, along with his criticism of the current administration, has sparked questions. Ripple executives have shared differing opinions, stirring reactions in the XRP community. 

In a Monday X post, Musk claimed that he didn’t know any independent voters supporting Trump in the last election. He said everyone he knows is voting for Trump this time, though many won’t admit it publicly. Musk also condemned the current administration, calling it a “big government machine” that he believes Trump could dismantle. 

Last election, I didn’t know a single independent/swing voter who was voting for Trump.

This time, I don’t know anyone who isn’t.

And one person after another has confided in me that they’re voting for Trump, but they’re afraid to say so publicly, because it will affect their… https://t.co/e5pxKDjd36

— Elon Musk (@elonmusk) November 4, 2024

Ripple CTO Criticizes Musk

David Schwartz, Ripple’s Chief Technology Officer, criticized Musk for his political lobbying. He noted that Musk’s endorsement of Trump may cause fear among other business people. Schwartz suggested that this atmosphere could limit free speech in the corporate sector, stifling necessary accountability.

Is getting Elon really worth a future where businessmen avoid criticizing those who seek government power out of a well-founded fear that if those they criticize do get in power, they'll wield the machinery of government against them, their employees, and their shareholders? https://t.co/MC7KEjMLPs

— David "JoelKatz" Schwartz (@JoelKatz) November 4, 2024

On the other hand, Chris Larsen, a co-founder of Ripple, opted for a different strategy. Instead of endorsing Trump, Larsen has endorsed the US Vice President Kamala Harris. He has personally contributed $12 million to her campaign, most of which was in XRP cryptocurrency.

Larsen hopes Harris might present fair policies toward the cryptocurrency sector and help the American market grow. The XRP community has raised important questions about Larsen’s support for Harris. Their concern comes from Harris’ strict policies on cryptocurrencies.

Ripple’s Divided Leadership

This has raised questions within the XRP community due to the existing division among Ripple’s leadership. Ripple CEO Brad Garlinghouse has also echoed similar sentiments, especially regarding the Biden administration. He stated:

I think no matter what happens, we’re going to see a reset. We’re going to see forward progress and I am certainly looking forward to that

The Ripple team faces criticism for their contrasting stance on the upcoming election. While Schwartz slams Musk’s Trump endorsement, Garlinghouse condemns Biden’s administration and Larsen backs Harris. With the election on the horizon, the XRP community is anxious about the industry players’ further moves.